Our World in 2018

GLOBAL VS. LOCAL WORLDS
(L-R) Philip May, husband of British Prime Minister, Theresa May, British Prime Minister, Xi Jinping, China’s President, and
Peng Liyuan, wife of China’s President, pose for a photograph at the Diaoyutai State Guest House in Beijing, China, 01
February 2018.
EPA-EFE/STEFAN ROUSSEAU / POOL
be ruled out. Of course, it is possible
that Xi can overcome resistance from
the Youth League. After all, he has
already largely vanquished the faction
connected to former President Jiang
Zemin, which previously constituted
the most powerful rival group within
the CCP. But even if Xi subdues the
Youth League, he will be left with a
regime that is more fractured and
dispirited.
behavior in the South China Sea. The
new conventional wisdom is that Xi will
be able to steamroll his colleagues in
2022, regardless of his performance in
.T
true.
But political authority is ephemeral,
especially for leaders who lack a solid
economic track record. For now, Xi
and his supporters have reason to
celebrate. But they should not count
.
Xi also faces significant policy
challenges. On the economic
front, he will have to contend
with soaring debts and overcapacity,
which, together with a shift toward
protectionism in President Donald
Trump’s America, could depress growth
further. In foreign policy, too, Xi will
confront a deteriorating relationship
with the United States, fueled by the
intensifying North Korean nuclear
threat and China’s own aggressive
Judging by any conventional measure,
Xi has thus emerged from 2017 more
powerful than ever. The question now
is whether he can use that power
to translate his vision for China –
particularly for its economy – into reality.
OUR WORLD | 2018
Copyright: Project Syndicate, 2018. www.project-syndicate.org
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